They say the time to buy is when there’s blood in the streets. In the case of Italy, are we there yet?
If you want to go against the herd and buy into Italian equities, good luck. My contrarian instincts want to do the same. Italian stocks have dropped a long way. Everybody hates them. No portfolio manager anywhere can afford to buy them with other people’s money, because if he’s wrong he’ll lose his job.
So maybe this really is the time to buy. And maybe I’m just overthinking it. But here are sevens reasons for brave contrarians to take a deep breath before plunging in.
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